Vehicle production in Russia was up 16% in the first nine months of the year to 1,394,025 units, figures released today show.
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ASM Holding, which monitors Russia’s automotive sector, has reported that car production increased 20.5% on the same period last year to 1,126,095 unit. Truck output rose 4.1% to 218,010 units in the period.
AASM said that foreign-branded car output was up 41.8% to 455,253 units and foreign-branded truck production rose 5.4% to 11,702 units.
Russia, however, is expected to see a considerable slowing of its car market in 2008.
As reported by just-auto last week, Martin Jahn, vice chairman of the Automobile Manufacturers Committee of the Association of European Businesses in Russia (AEB), and general director of VW’s Russian subsidiary, Volkswagen Group Rus, has predicted that the country will see growth in new cars this year of 18%, to 2.75m.
This figure compared to growth of 38% in 2007. Jahn added that before the global economic crisis hit, the AEB was predicting 3m new car sales in Russia in 2008.
Russia has been one of the few auto markets that seemed relatively impregnable as global demand cooled this year in response to the credit crisis and higher oil prices. However, Jahn’s predictions are in line with other recent reports from the country.
